And then you can still lose money, even if you have unlimited amounts of both.

If they sell, both parties most-likely lose.

You could still lose the property in an hypothetical law suite, etc. 

But, I knew that as long as the numbers worked and we weren't losing money then a condo could be a good first rental property.

But, I knew that as long as the numbers worked and we weren't losing money then a condo could be a good first rental property.

I hope it's ok to ask questions about this here; I know it's not a standard investment property situation.Last night, one of my tenants yelled at me for several minutes on end, then made a vague statement that he felt he might lose control and do something regrettable.  

You may lose the anonymity this way.

Now for the future I know exactly what I need to do and how to mitigate the chances of losing.

Even at $2500/month I pay currently for rent would it be worth it to take on this venture or should I look out of state where I could conceivably buy several properties for the same price even though I’ll lose the FHA and have to do the full 20%?

What is the income you are losing by delaying?